My country has banned crypto for years, but it doesn't matter too much. We are still using it every day and making a profit from it without any difficulty, that's why we need decentralization and no one can control it.
Topic: Do you fear the president of your country, one day, making Crypto illegal ? - page 15. (Read 4114 times)
August 03, 2020, 09:53:45 AM
August 03, 2020, 08:59:35 AM
I think the government already knows that bitcoin is also being used in illegal activities, that is why there are a lot of countries who have banned bitcoin and cryptocurrencies. So I can say that I am afraid, if someday the president of my country will banned cryptocurrency because maybe I don't have the chance to withdraw my funds from my wallet.
August 03, 2020, 08:52:34 AM
What if, for example - like after that twitter hack - the President wakes up (in a bad mood) and decides with an executive order to make all crypto illegal in the USA?
Your example is quite vague, I don't think that countries like USA or their President has the authority to make an executive order without being challenge.
Of course this probably will never happen in today's world, as the there is big money is invested into crypto currencies; but do you ever think that it is even remotely possible...
It doesn't matter how much money is invested, if such is the reason, then every country will simply accept crypto.
Or the next elected president is so "old school" and decides that crypto needs to go?
If this happens then obviously, crypto enthusiast on a former crypto friendly countries are going to take action and challenge it just like what happen to India.
I don't mean only America, what about in your country; do think that a future ban on crypto currencies is ever possible in your country?
I'm not afraid though, because we treat crypto as something that can change our country we are even trying to become a crypto hub, so I don't think that our government even with a new President will make a complete change or going 180 degrees.
August 03, 2020, 08:46:45 AM
I am living in India, and here the system is different. The president has only nominal powers and the real power is with the parliament and with the ministers. But that doesn't mean that we don't have to worry about a potential ban. The former finance secretary (Subhash Chandra Garg) once proposed to make ownership of cryptocurrency a criminal offense, punishable by a jail term of up to 10 years. Fortunately, the finance ministry fired this loser and threw away his recommendation in the dust bin.
India is very different, we thought that we have won against the RBI ban, but it seems that the parliament and ministers will take it differently.Regarding the question, anything is possible, we shouldn't be too relax today. Just because some governments are being too friendly doesn't mean that one day they won't overturn their decisions. If they deem that crypto is bring more harm than good to their economic standing, sooner or later they might go against and change their tone. No one is safe from government.
August 03, 2020, 08:40:29 AM
What if, for example - like after that twitter hack - the President wakes up (in a bad mood) and decides with an executive order to make all crypto illegal in the USA?
Of course this probably will never happen in today's world, as the there is big money is invested into crypto currencies; but do you ever think that it is even remotely possible...
Or the next elected president is so "old school" and decides that crypto needs to go?
I don't mean only America, what about in your country; do think that a future ban on crypto currencies is ever possible in your country?
There is nothing to fear again about that one. In the first instance, crypto has never been declared legal before in my country and we have many adopters of crypto. There was a time my country's government declared that individual phones should be checked by security personnel and anyone with crypto related documents should be arrested, still people were not discouraged. No matter what my country's government does, I cannot be discouraged or worried.
August 03, 2020, 08:29:38 AM
I am not worried about this issue, ever since I entered this market, the government has listed crypto as illegal. But there are still a lot of people who use and trade it, so I believe there won't be any problems for me.
If most governments make crypto illegal officially and place a complete ban on crypto, it will drastically cause downtrend in crypto market. However, this doesn't mean crypto will seize to exist, people will still use crypto. The big problem is when centralized exchanges are given orders to close up or face the consequences, and we need these exchanges to trade. I don't see it forthcoming anyway, so no need ponder on this.
August 03, 2020, 08:05:03 AM
I don't think any America President will try that. As for my country, they are already discussing a bill to see how cryptocurrency can boost the economy. Should my president try anything negative with cryptocurrency, I will go incognito, still will be making good use of crypto without them knowing save they want to shutdown the internet. Cryptocurrency has evolved and it's too real to be dealt with by a single president of any nation.
August 03, 2020, 07:35:34 AM
crypto currencies do not need approval from the president, crypto currencies are decentralized, not centralized, this is not money from the government, this is world money, I'm not afraid
Absolutely, it was not created by the government, so we need not fear it is banned. I have seen many countries ban it but people there still use it smoothly because crypto is decentralized, which is why I love this market. 
August 03, 2020, 07:23:06 AM
no, I'm not afraid. because this will never happen. but if crypto is illegal, it's no big deal. I would only have a hard time exchanging it with FIAT. nothing has changed. from the beginning in my country crypto was not very popular, so the government did not pay more attention to crypto. I also rarely use the local market for crypto trading, because the trading volume is not too large. I prefer global markets like binance, OKex or Bittrex. so, if one day crypto is illegal in my country. it doesn't have a big impact on me.
August 03, 2020, 07:07:11 AM
What if, for example - like after that twitter hack - the President wakes up (in a bad mood) and decides with an executive order to make all crypto illegal in the USA?
Of course this probably will never happen in today's world, as the there is big money is invested into crypto currencies; but do you ever think that it is even remotely possible...
Or the next elected president is so "old school" and decides that crypto needs to go?
I don't mean only America, what about in your country; do think that a future ban on crypto currencies is ever possible in your country?
Ain’t worried with it. Here in the Philippines, we are a crypto-friendly country. Unionbank has it’s first-ever crypto ATM (I’ve seen that ATM myself in their main branch in Makati), and they’ve formed Cagayan Economic Zone Authority (CEZA) where multiple cryptocurrency and blockchain firms can operate (and the Philippine president was in attendance giving the speech during the inauguration), and the Bangko Sentral ng Pilipinas (BSP) approved lots of virtual currency exchanges (VCEs) to operate in Philippine soil.
However, there are no clear laws yet regarding crypto taxes here in the Philippines. However, I think they’ve implemented regulation in launching ICOs here in the Philippines. SEC Philippines have categorized cryptocurrencies as securities. I’ve seen some physical and online shops within the National Capital Region where they accept Bitcoin as payment method in buying products and services.
For me, the cryptocurrency and blockchain industry in the Philippines is growing gradually but in a slow pace due to COVID-19 threat.
August 03, 2020, 06:44:17 AM
For now, I don't have such fear because I don't see any reason for our government or the president to ban crypto in my country. Especially now that we are in a pandemic and that's the main issue of almost all country. Even without it, I have not seen any violent reaction from them about crypto and adoption.
But if the government is showing a negative reaction towards it, of course, you will get worried about the possibility that they might ban it in your country. I think a chance like this will come if some incidents or someone will trigger the government to ban crypto, but I just hope that such things won't happen.
But if the government is showing a negative reaction towards it, of course, you will get worried about the possibility that they might ban it in your country. I think a chance like this will come if some incidents or someone will trigger the government to ban crypto, but I just hope that such things won't happen.
August 03, 2020, 06:18:09 AM
crypto currencies do not need approval from the president, crypto currencies are decentralized, not centralized, this is not money from the government, this is world money, I'm not afraid
August 03, 2020, 06:15:56 AM
I am not worried about this issue, ever since I entered this market, the government has listed crypto as illegal. But there are still a lot of people who use and trade it, so I believe there won't be any problems for me.
August 03, 2020, 06:13:34 AM
I am not worried because in our country cryptocurrency is illegal. But I will be happy if govt accept bitcoin but possibility is low. Though govt. announce about blockchain and they declared about the budget but no progress. I think near future govt will accept cryptocurrency & we can use crypto proudly 
August 03, 2020, 05:53:57 AM
For me, cryptocurrency is a new technological breakthrough in the global crypto industry. And if my country wants to earn money to use cryptocurrency, then it means a big tragedy for the development of new technologies. Since all advanced technologies are created with the help of the crypto industry. And other countries are developing with the help of new technologies and achieving great economic results. So my country, I think, will develop any direction to create great potential for economic results.
August 03, 2020, 05:51:14 AM
What if, for example - like after that twitter hack - the President wakes up (in a bad mood) and decides with an executive order to make all crypto illegal in the USA?
Of course this probably will never happen in today's world, as the there is big money is invested into crypto currencies; but do you ever think that it is even remotely possible...
Or the next elected president is so "old school" and decides that crypto needs to go?
I don't mean only America, what about in your country; do think that a future ban on crypto currencies is ever possible in your country?
August 03, 2020, 05:08:40 AM
Praise to God, in my country, the government does not forbid people to have Crypto, even they have made laws governing the Crypto world, Set up Crypto Exchange to be eligible in the service and financial authority. I think that's the right step taken by government so the Crypto world continues to grow in my country.
August 03, 2020, 04:54:29 AM
Crypto currency lovers will hate that for sure and that's not possible to happen in my country since its already legal here. And that hacking attempt happen will not be the reason to destroy the trust we have in crypto currency.
In terms of hacking and other scheme those who use bank tO stored their money is much more vulnerable to became a victim in my country.
In terms of hacking and other scheme those who use bank tO stored their money is much more vulnerable to became a victim in my country.
August 03, 2020, 04:48:39 AM
I think that countries that make crypto illegal will get left behind, and will soon realise their mistake and legalise it again. If we think about the potential of smart contract cryptos such as Ethereum, these can introduce huge efficiency improvements in society... any country that makes crypto illegal chooses to use a much less efficient system instead, and puts themselves at a disadvantage.
August 03, 2020, 04:36:28 AM
People have a power, but they don't know it. But, I believe that governmens don't realize how big problem cryptocurrencies could be for them and when they finally realize it, it would be so late and people will fight against all prohibitions against cryptocurrencies.
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